Eaton Reports Record Third Quarter Revenue Driven by Data Center Demand
Eaton (ETN) reported strong third-quarter results, beating analyst expectations with record revenue of $8.95 billion, a 28% increase year-over-year. Adjusted earnings per share rose 20% to $3.68, surpassing the consensus estimate of $3.54. The company's performance was heavily bolstered by its data center segment, which saw revenue growth of 65% year-over-year. Management raised its full-year outlook for organic growth and adjusted EPS, citing a record backlog and sustained demand across key end markets. While the Aerospace segment missed revenue estimates, the Electrical Americas and Electrical Global segments remain robust. The company also noted that its acquisition of Boyd Thermal is successfully expanding its liquid-cooling capabilities for server racks, further strengthening its position in the AI infrastructure trade.
Tickers: $ETN
Topics: AI trade data center infrastructure earnings beat electrical equipment revenue growth
Part of the story Fabrinet Reports 51% Year-Over-Year Revenue Growth Driven by Data Center Demand (7 articles)